ASX GROUP MONTHLY ACTIVITY REPORT – MAY 2017The value of ASX-listed stocks, as measured by the All Ordinaries Index, fell 3.1% in May 2017. This movement was in contrast to major markets, including the UK up 4.4%, Hong Kong up 4.2%, Japan up 2.4%, Germany up 1.4%, the US up 1.2% and Singapore up 1.1%.Volatility measures for the Australian equity market remained relatively low in May: Volatility (as measured by the average daily movement in the All Ordinaries Index) was 0.4% in May, consistent with the previous month (0.4%). Expected future volatility (as measured by the S&P/ASX 200 VIX) in May was an average of 12.2 (compared to 12.7 in April).